Textron Inc. Files Q2 2024 10-Q Report
Ticker: TXT · Form: 10-Q · Filed: 2024-07-30T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
**Textron Q2 10-Q is IN! Check financials for latest performance.**
AI Summary
Textron Inc. reported its second quarter results for the period ending June 29, 2024. The company's financial statements, filed on July 30, 2024, provide details on its assets, liabilities, and debt obligations. Specific financial figures for the quarter and year-to-date are available within the filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Textron Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Numbers
- N/A — Revenue (Specific revenue figures are not detailed in the provided snippet.)
- N/A — Net Income (Specific net income figures are not detailed in the provided snippet.)
- N/A — Total Assets (Specific total asset figures are not detailed in the provided snippet.)
Key Players & Entities
- TEXTRON INC (company) — Filer of the 10-Q report
- 0000217346-24-000084 (other) — Accession number for the filing
- 20240629 (date) — Conformed period of report
- 20240730 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The conformed period of report is 20240629, meaning the quarter ending June 29, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on 20240730.
What is Textron Inc.'s Central Index Key (CIK)?
Textron Inc.'s Central Index Key is 0000217346.
What is Textron Inc.'s primary industry classification?
Textron Inc. is classified under AIRCRAFT & PARTS with SIC code 3720.
What is Textron Inc.'s fiscal year end?
Textron Inc.'s fiscal year ends on 1228.
Filing Stats: 4,824 words · 19 min read · ~16 pages · Grade level 15.5 · Accepted 2024-07-30 16:36:12
Key Financial Figures
- $0.125 — ange on which registered Common stock, $0.125 par value TXT New York Stock Exchange (
Filing Documents
- txt-20240629.htm (10-Q) — 1437KB
- q2202410qex-101.htm (EX-10.1) — 145KB
- q2202410qex-102.htm (EX-10.2) — 29KB
- q2202410qex-311.htm (EX-31.1) — 10KB
- q2202410qex-312.htm (EX-31.2) — 10KB
- q2202410qex-321.htm (EX-32.1) — 5KB
- q2202410qex-322.htm (EX-32.2) — 5KB
- image_1.jpg (GRAPHIC) — 2KB
- image_2.jpg (GRAPHIC) — 0KB
- image_4.jpg (GRAPHIC) — 0KB
- 0000217346-24-000084.txt ( ) — 8414KB
- txt-20240629.xsd (EX-101.SCH) — 45KB
- txt-20240629_cal.xml (EX-101.CAL) — 109KB
- txt-20240629_def.xml (EX-101.DEF) — 218KB
- txt-20240629_lab.xml (EX-101.LAB) — 652KB
- txt-20240629_pre.xml (EX-101.PRE) — 446KB
- txt-20240629_htm.xml (XML) — 1541KB
Financial Statements
Financial Statements Consolidated Statements of Operations (Unaudited) 3 Consolidated Statements of Comprehensive Income (Unaudited) 4 Consolidated Balance Sheets (Unaudited) 5 Consolidated Statements of Cash Flows (Unaudited) 6 Notes to the Consolidated Financial Statements (Unaudited) 8 Note 1. Basis of Presentation 8 Note 2. Accounts Receivable and Finance Receivables 8 Note 3. Inventories 10 Note 4. Accounts Payable and Warranty Liability 10 Note 5. Leases 11 Note 6. Derivative Instruments and Fair Value Measurements 12 Note 7. Shareholders' Equity 13 Note 8. Segment Information 16 Note 9 . Revenues 16 Note 1 0 . Retirement Plans 18 Note 1 1 . Special Charges 18 Note 1 2 . Income Taxes 19 Note 1 3 . Commitments and Contingencies 19 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 30 PART II. OTHER INFORMATION Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 5. Other Information 31 Item 6. Exhibits 31
Signatures
Signatures 32 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements TEXTRON INC. Consolidated Statements of Operations (Unaudited) Three Months Ended Six Months Ended (In millions, except per share amounts) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Revenues Manufacturing product revenues $ 2,842 $ 2,917 $ 5,274 $ 5,467 Manufacturing service revenues 673 489 1,361 951 Finance revenues 12 18 27 30 Total revenues 3,527 3,424 6,662 6,448 Costs, expenses and other Cost of products sold 2,382 2,465 4,451 4,641 Cost of services sold 557 381 1,102 736 Selling and administrative expense 293 289 609 594 Interest expense, net 25 19 45 39 Special charges 13 — 27 — Non-service components of pension and postretirement income, net ( 66 ) ( 59 ) ( 132 ) ( 118 ) Total costs, expenses and other 3,204 3,095 6,102 5,892 Income from continuing operations before income taxes 323 329 560 556 Income tax expense 63 66 99 102 Income from continuing operations 260 263 461 454 Loss from discontinued operations ( 1 ) — ( 1 ) — Net income $ 259 $ 263 $ 460 $ 454 Basic earnings per share Continuing operations $ 1.37 $ 1.31 $ 2.41 $ 2.24 Diluted Earnings per share Continuing operations $ 1.35 $ 1.30 $ 2.38 $ 2.22 See Notes to the Consolidated Financial Statements . 3 Table of Contents TEXTRON INC. Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended Six Months Ended (In millions) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net income $ 259 $ 263 $ 460 $ 454 Other comprehensive income (loss), net of tax Pension and postretirement benefits adjustments, net of reclassifications 1 — 2 — Foreign currency translation adjustments ( 14 ) 4 ( 47 ) 32 Deferred gains (losses) on hedge contracts, net of reclassifications 1 8 ( 4 ) 6 Other comprehensive income (loss) ( 12 ) 12 ( 49 ) 38 Comprehensive income $ 247 $ 275 $ 411 $ 492 See Notes to the Consolidated Financial Statements . 4 Table of Contents TEXTRON INC. Consolidated Balance Sheets (Un